Earlier quoted context omitted.
A lot of people are under the impression that public schools are a disaster in this country unless you're in a high performing school district. Either buy an expensive house or try to make enough money to send your kids to private school. So, no, public schools are not okay here, regardless of your view on this law.
It is designed that way. Instead of taking property tax money, pooling it, then evenly dividing it across a state. The way most states are designed is that property tax is given to the local school district, meaning that areas with cheaper homes get less money than areas with more expensive homes. This is made worse by demographic problems associated with poverty which makes teaching poor kids more expensive than ric…
Actually fixing US schools amounts to "fix (or significantly mitigate) the US poverty-cycle problem", unfortunately. Unfortunate because if just funding poor schools like rich schools (Nb sometimes those funding levels are the opposite of what you'd expect, though—there are state and federal programs to funnel money to really, really bad schools) then it'd be straightforward and (relatively!) cheap to fix. The actual causes are more complex and would require far more "political will", as they say, plus a lot more money, to fix.